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| Country Guide > Caribbean > Anguilla |
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Business Profile Economy Industries include fishing and fish processing, salt mining and boat manufacture (both traditional and contemporary crafts) and construction. Most of the island’s agricultural produce is, however, for domestic consumption. The service sector, specifically tourism and financial services, are responsible for the great majority of economic output. The financial sector has been damaged by a series of scandals, which, along with growing competition from other Caribbean micro states, has put its future viability in question. Moreover, in June 2000, Anguilla was identified by the Organisation for Economic Cooperation and Development (OECD) – the world’s 30 largest economies – as one of 35 ‘tax havens’ whose financial laws are believed to encourage large-scale tax evasion and money laundering. It has since taken measures to meet OECD demands, thereby avoiding the threat of economic sanctions. Tourism accounts for approximately 40 per cent of GDP. The Anguillan government receives development aid from the UK and, as an overseas dependency, enjoys the status of an EU Associate Overseas Territory. Business Anguilla is a small island with few business opportunities as such; lightweight suits or shirt and tie should be adequate for meetings. Office hours: Mon-Fri 0800-1200 and 1300-1600. Commercial Information The following organisation can offer advice: Anguilla Chamber of Commerce, PO Box 321, The Valley (tel/fax: 497 2839; e-mail: acoci@anguillanet.com; website www.anguillachamber.com). |